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BUSINESSSep 18Bank of Japan raises benchmark interest rate to 1.25%The Bank of Japan on Friday raised the benchmark interest rate to 1.25% from 1.0%, a 31-year-high. The move Friday, coming at the end of the two-day monetary…Japan Today
BUSINESSSep 18South Korean president admits shortfalls in single-stock leveraged ETFsSouth Korean President Lee Jae Myung on Friday acknowledged there were shortfalls in single-stock leveraged exchange-traded funds introduced earlier this year.thestandard_hk · hong kong
BUSINESSSep 18Bank of Japan raises interest rates to 31-year high, flags concerns over inflationThe decision was split 7-2, with board members Toichiro Asada and Ayano Sato dissenting from the hike.CNBC
BUSINESSSep 18Japan’s interest rate hiked to 31-year high at 1.25% as inflation risesBank of Japan raises benchmark interest rate from 1 to 1.25 percent, pledging to help counter inflation risks.Al Jazeera [en]
BUSINESSSep 18ByteDance spin-off Anew Labs raises US$290m as AI drug developers enjoy fundraising boomChina is seeing a fresh fundraising boom for artificial intelligence-powered drug developers, with start-ups including a ByteDance spin-off raising hundreds of millions of dollars this week as investors rush to back domestic challengers to Anthropic and Isomorphic Labs. Anew Labs, a Shanghai-based AI drug discovery firm and former unit of Chinese tech giant ByteDance, has raised US$290 million at a valuation of US$1.5 billion, according to an informed source. Investors included prominent venture...South China Morning Post
BUSINESSSep 18Can the new Pinglu Canal become China’s ‘Yangtze of the southwest’?The opening of China’s first new river-to-sea canal since 1949 – which will boost trade links with Southeast Asia – could transform the economy of the country’s landlocked southwestern interior in ways comparable to the Yangtze’s role in Shanghai’s rise, according to its operator. The 134.2km (83.4 mile) Pinglu Canal, which opened on Wednesday, links a major tributary of the Pearl River in the southern Guangxi Zhuang autonomous region with the Gulf of Tonkin, known as the Beibu Gulf in China,...South China Morning Post
BUSINESSSep 18Bank of Japan raises rates to 1.25%Authorities warn of further potential currency intervention after central bank move fails to buoy currencyFinancial Times
BUSINESSSep 18Authorities aim to launch revamped Huanggang Port on October 12Hong Kong’s redeveloped Huanggang Port could begin operations as early as October 12, allowing cross-border travellers to complete Hong Kong and mainland Chinese immigration procedures in a single inspection under a new joint clearance system. The South China Morning Post learned on Friday that authorities were targeting the date for the launch, although that would depend on the facility’s operational readiness. Launching on October 12 would meet the government’s target of starting operations in...South China Morning Post
BUSINESSSep 18China publicly names officials in ‘unprecedented’ hidden-debt crackdown. Can it work?A recently issued official circular has put China’s long-running problem with hidden local government debt back in the spotlight. Earlier this month, the Ministry of Finance (MoF) and the Central Commission for Discipline Inspection (CCDI) jointly outlined six typical cases spanning six provinces where local authorities had fallen short of targets to resolve unrecorded liabilities. “For hidden-debt penalty announcements, it is unprecedented to have the CCDI alongside the MoF,” said Qiao Yide,...South China Morning Post
BUSINESSSep 18Like Shenzhen, the Northern Metropolis is animated by the spirit of experimentationAt the heart of Hong Kong’s first five-year plan lies the Northern Metropolis – a massive tract of land spanning roughly a third of our entire city. Much ink has been spilled over what this project represents and why it matters, but if I had to summarise it in a single sentence, I would call it the “Shenzhen of Hong Kong”. To me, Shenzhen stands as the most miraculous growth story on Earth. Forty-eight years ago, it was a sleepy fishing village with a single muddy main road and just tens of...South China Morning Post
BUSINESSSep 17Hong Kong malls bet on Asian Games to boost footfall, tenant sales amid spending shiftsHong Kong shopping mall operators are extending a strategy used during this year’s Fifa World Cup into the Asian Games, leveraging major sporting events to draw visitors and support tenant sales as retailers face competition from Shenzhen, overseas shopping and online spending. Sino Group is among the landlords expanding the strategy beyond tournament broadcasts. It expects foot traffic across four malls to increase during its Asian Games campaign, with selected merchants forecast to record...South China Morning Post
BUSINESSSep 17US trade chief pressed Brazil to review Anglo American nickel sale to ChinaUS Trade Representative (USTR) Jamieson Greer asked Brazil to review the sale of Anglo American’s nickel mines to a Chinese state-controlled miner in exchange for tariff relief, two people familiar with the negotiations told the South China Morning Post. Washington made the request during talks to lift the 50 per cent tariffs US President Donald Trump imposed on Brazilian goods last year. First reported by Brazilian newspaper O Estado de S. Paulo and CNN Brazil on Thursday, the proposal would...South China Morning Post
BUSINESSSep 17XMax AI expands into K-Fashion industry AIXMax AI is expanding its operations into the K-Fashion industry through the application of artificial intelligence. This move signifies the integration of AI technology into the fashion sector.Seeking Alpha Tech
BUSINESSSep 17Why have China’s oil prices reached a record high?Why have China's oil prices reached a record high?Al Jazeera [en]
BUSINESSSep 17Thai Baht: Electronics boom offers limited FX support – MUFGMUFG’s Lloyd Chan remains cautious on the Thai Baht, keeping the USD/THB forecast at 34.00 by year-end.fxstreet · spain
BUSINESSSep 17Voya Asia Pacific High Dividend Equity Income Fund declares $0.065 dividendVoya Asia Pacific High Dividend Equity Income Fund has declared a dividend of $0.065. This indicates a routine financial distribution to its shareholders.Seeking Alpha Tech
BUSINESSSep 17Voya Asia Pacific High Dividend Equity Income Fund declares $0.065 dividendVoya Asia Pacific High Dividend Equity Income Fund has declared a dividend of $0.065. This indicates a routine financial distribution to its shareholders.Seeking Alpha Tech
BUSINESSSep 17What's up with the tariff dispute between the US and China before the Trump-Xi summit?Trump and Xi will meet in Washington to address the tariff dispute that has strained trade relations between their countries since 2018. China seeks to reduce mutual tariffs while Trump tries to secure agricultural purchases before the US midterm elections.Clarín
BUSINESSSep 17VinFast (VFS)-Backed Taxi Firm GSM Plots a US and European Push ahead of its Hong Kong IPOGSM, a taxi firm backed by VinFast, is planning to expand its operations into the US and Europe ahead of its Hong Kong IPO. This indicates significant growth ambitions and a major financial move in the global transportation and automotive sectors.Yahoo Finance
BUSINESSSep 17China faces oil challenge as prices soar and supply options narrowBeijing is drawing on vast reserves and seeking alternative crude as shipping disruption continues.Al Jazeera [en]
BUSINESSSep 17100 start-ups joining Hong Kong’s flagship tech hub to get top mentorsAround 100 start-ups selected to join Hong Kong’s flagship border tech hub will undergo mentorship programmes ranging from five to eight years, backed by industry heavyweights, the operator has revealed. Vincent Ma, CEO of Loop Hong Kong Park Company, said in an interview on Thursday that the start-ups were chosen to join the Hong Kong-Shenzhen Innovation and Technology Park (HSITP) following a months-long screening process. “We have chosen 100 start-ups to enter our park soon following a few...South China Morning Post
BUSINESSSep 17Cargill invests in Thailand featuring automation, AICargill is making investments in Thailand, incorporating automation and artificial intelligence into its operations. This move reflects a trend of technological integration in business and industry.Yahoo Finance
BUSINESSSep 17Hong Kong eyeing gold expansion and Northern Metropolis vaults to cement hub statusHong Kong’s plan to raise its gold holdings will further cement the city’s status as an international financial centre, with the possibility of building vaults in the Northern Metropolis megadevelopment, according to authorities. Financial Secretary Paul Chan Mo-po also said on Thursday the city was under “no pressure” to raise interest rates following a US rate hike, but stressed authorities would “keep a close watch” on the situation. Speaking at a conference the day after the policy address...South China Morning Post
BUSINESSSep 17US tariffs against Russian oil buyers pass: What it means for China, IndiaUS sanctions aim to weaken Russian oil exports, heavily targeting China and India as Moscow's largest energy buyers.Al Jazeera [en]